Mar 29, 2021
All the Details: Method Finance LBP on Balancer
Before diving into the details, it’s important to reiterate why Method Finance is here and why we exist:
Our vision is to create a new standard for liquidity mining and help build the next wave of DeFi.
Through our Method NFT vault, Liquidity Providers can stake liquidity to their NFT, which then proves they are providing liquidity and should earn rewards, without needing to stake directly into a protocol’s smart contract. This makes it a win-win for legitimate providers and protocols, while increasing confidence in the DeFi ecosystem.
Furthermore, our tools provide other benefits such as the ability to:
- Liquidity mine across multiple protocols simultaneously
- Signal liquidity availability to interested parties in a rapid manner
- Provide a rich history for liquidity seekers
And all of this while retaining custody and self-sovereignty over assets.
We have an exciting update with all the details of the Method (MTHD) Liquidity Bootstrapping Pool (LBP) on Balancer.
- The launch will be on Tuesday, March 30th at 12pm EST / 4pm UTC.
As a reminder, the purpose of the event is to:
- Create a way to distribute the Method tokens to the community
- Give back to the community and those within the Method NFT reward tiers
- Create decentralized governance and allow the community to decide on important decisions
- Set up Method for long term success to achieve our ambitious roadmap
At this point, the team has worked hard to build a working product and below are some of the accomplishments we’ve reached since our start:
- 1000+ Method NFTs minted in less than 24 hours (Mint yours here)
- A growing Twitter, Discord, and Telegram community
- Medium articles explaining how Method is ushering the next wave of Defi
We’re excited about the fair and equitable launch with the goal to encourage participation by the community at large. You can read more about how the community specifically will benefit from the LBP and the implications of the Method NFT reward tiers in our last post. Reiterating our position, to date there are 0 tokens as part of the circulating supply.
When asked by the community why we’re not doing a private sale of the token, this was our response and we want to make it clear that we value the trust you have placed in us:
The initial circulating supply will only come from the LBP and the ETH / MTHD pair will be locked in Uniswap when the launch ends to ensure the funds are safe and go towards providing liquidity for the MTHD token.
Below are the specific details related to the LBP:
- Starting price will be: $0.16
- Token allocation to LBP: 30M
- Time length: 72 hours
The weights will start at 96:4 and work their way linearly to 50:50 by the end of the LBP. The Balancer pool is set up to start with the price higher in the beginning and then decrease over time to disincentivize bots and whales getting in early and dumping the token before the sale ends.
The total supply of tokens will be 100M; however, they will not be released immediately, but over time. Below are the details on the MTHD token distribution breakdown:
- 30% Balancer LBP
- 25% Liquidity Mining Rewards
- 20% Liquidity provision
- 15% Development / Operations (locked and released linearly over 24 months)
- 10% Bounties / Grants
We hope you’ll join us for the next big phase of Method Finance.
Check out our community to keep up with important updates!👇
